Wholesale

7 Replies

Ok, so Im ready to Wholesale and been looking at different houses in different areas. My thing is, I dont have a buyers or salers list. How can I go about starting or marketing a deal without those being established yet?

Stop by the REIA group would be the first thing to do. But with wholesaling, the 1st, 2nd and 3rd thing is getting a great deal. If you have a great deal under contract, you don't even need a buyer's list. Just put the property on craigslist and it should go quickly. So go ahead and build your buyer's list, but the deal needs to be your primary focus.

Thanks!! I think there is one in the St Louis area that I can drop in on

Hey Fannie,

Go to MyHouseDeals.com and post your wholesale deal there. If it's a good one, you'll be contacted by a bunch of buyers. Save these as this will become your buyers list.

By the way, I'm also a wholesaler and need properties to send to my buyer's list. Would you consider partnering with me? I have a buyer's list, you have properties. Consider letting me run your properties by my buyers and we'll split the profits. OK?

I agree with Andrews, joining your locate REIA is an excellent opportunity for networking and finding buyers. If the deal is a great deal, you shouldn't have any issues with finding buyers. I recommend taking the suggested action offered in this post and begin building a buyers list. One of the wholesaler's in my area has a strategy of getting cell phone numbers and she will mass text potential buyers with a small ad with basic details (Asking Price, rehab cost, and possible rental income) and ask those buyers to contact her for a more detailed listing. Listen to BP podcast for some excellent ideas on marketing. Here are a few I would recommend listening to if you haven't done so already:

PodCast #71 http://www.biggerpockets.com/renewsblog/2014/05/22...

PodCase#69 http://www.biggerpockets.com/renewsblog/2014/05/08...

Additionally, I would take Bill up on his offer to partnering your wholesale deals, this will help you with moving of the property and can be mutually beneficial for both parties.  Make sure you have a contract in place with each deal. 

Good Luck 

@Fannie Hood  Being in Saint Louis myself I would recommend the South Side Investors Club. Lots of good people to know from there. There is actually a website that they run with wholesale deals that I can send you a link to. Good place to find buyers. 

I agree with @Andrew Syrios as well. Start with your local REIA. I've met some great people at mine. I'm still working on my first deal. Actually just had my first offer accepted. That'll be the first place I send my deal. You can also look here on BiggerPockets for other investors in your area.

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